Please download document for text with graphs The IFC Ukraine Agri-Insurance Development Project presents the findings of a research study of the agricultural insurance market based on winter crop insurance season for winter 2009-2010. These findings are based on the data provided by insurance companies and open source data. The research database included the […]
Agricultural insurance system in Italy. Current status and perspectives. Giuseppe Pennucic, Antonella Pontrandolfi Agricultural activities face risks linked to market trends and environmental conditions, in particular climatic conditions and in Italy the heterogeneity of the territory determines a high variability of conditions and productions. In order to manage risks in agriculture, one the most important […]
While satellite data provide significant advantages over conventional surface-based observations, there are also important limitations in how the data can be used to infer information about the state of the atmosphere. Specifically, information about the atmosphere is obtained indirectly by measuring the properties of electromagnetic radiation arriving at a space-borne sensor. That is, weather variables, such as precipitation or surface temperature, need to be inferred from quantities that provide a proxy for the weather variables of interest.
There is considerable diversity in the range of agricultural insurance schemes available in Member States throughout Europe. Some of these are subsidised by Member States and others purely privately funded. Insurance is probably the best known tool for risk management but the nature of agriculture presents a number of issues. For example, systemic risks (i.e. a lot of people suffer losses at the same time) make it necessary for insurance companies to charge very high premiums if state contributions are not available. These premiums are often unaffordable for many farmers.
SystemAgro: sustainable crop insurance in response to climate change Holger Schwarz, Special and Financial Risks, Munich Re Long-term crop insurance is operated across more than 200 million hectares of agricultural land around the world. For more than 35 years, valuable experience has been gathered on this crop insurance system. Munich Re has filtered out the […]
Crop insurance schemes depend on two things René Gommes and Jürgen Grieser Crop insurance schemes depend on two things: a relatively complex set of mathematical tools and reliable data on many different variables, ranging from weather to agricultural output. Insurance companies can protect farmers from harm, but they need reliable statistics which, all too often, […]
As its proponents hoped, crop insurance has become the largest single source of financial protection to farmers. From insuring 182.2 million acres in 1997, the program has grown to cover more than 264.6 million acres, a slight drop from the 272.7 million acres in crop year 2008. According to National Crop Insurance Services, the program is meeting the Congressional mandate of insuring 80 percent of insurable farmland.There are two kinds of crop insurance: crop-hail, which is provided by the private sector, and multiple peril, an all-risk coverage underwritten by the private sector and the federal government and serviced mostly by the private sector.
Reinsurers are playing often a key role in developing new agricultural insurance markets. In agriculture, finance of inputs and lending for crop inputs is very often linked to the availability of crop insurance and hence reinsurance. Being in the financial service industry Partner Re sees its role in providing risk capital for risk transfer with all the financial services that go along with that process. For Partner Re the sector of agriculture insurance has been defined clearly as a main strategic target.
Crop Moisture Stress Index National Oceanic and Atmospheric Administration (USA) The Moisture Stress Index for corn and soybean crops is a measure of the effects of drought and catastrophic wetness on national crop yield and is calculated through the use of a drought index (the Palmer Z Index) and annual average crop productivity values within […]
Farmers face a variety of market and production risks that make their incomes volatile from year to year. In many cases, farmers also confront the risk of catastrophe, as, for example, when crops are destr oyed by drought or pest outbreaks or when assets and lives are lost to hurricanes and floods. These risks are particularly burdensome to the poor, including many small farmers. Unless adequately managed, they can slow economic development and poverty reduction and contribute to humanitarian crises.
Mold and other quality losses are rarely severe enough to trigger crop insurance claims, as I found out when reporting today's news story on how growers will be compensated for their sub-par crops. Kernel damage and low test weights must meet thresholds before insurance adjustments trigger. In practice, crop insurers told me, it's hard for growers to get fully paid for dockage and they believe that will be the case with this latest outbreak of white mold in the Illinois and Indiana corn crops.
Agricultural producers face a series of risks affecting the income and welfare of their households. These are mainly production risks related to weather conditions, pests and diseases, market conditions, etc. Consequently, the income stability of agricultural stakeholders can be also affected. In recent years the European Union has been considering a possible integration of risk management in the common agricultural policy and is analysing risk and crisis management strategies to provide an improved response to crises in the agricultural sector.
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